Uruguay: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in Uruguay

The Uruguayan yoghurt and fermented milk market was estimated at $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, saw a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Yoghurt and Fermented Milk in Uruguay

In value terms, yoghurt and fermented milk production stood at $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Yoghurt and Fermented Milk

Exports from Uruguay

In 2022, shipments abroad of yoghurt and fermented milk increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt and fermented milk exports skyrocketed to $X in 2022. In general, exports continue to indicate a slight expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for yoghurt and fermented milk exports from Uruguay, accounting for a X% share of total exports. Moreover, yoghurt and fermented milk exports to Brazil exceeded the volume sent to the second major destination, the Philippines (X tons), fourfold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Thailand (X% per year).

In value terms, Brazil ($X) remains the key foreign market for yoghurt and fermented milk exports from Uruguay, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the average yoghurt and fermented milk export price amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt and fermented milk export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Yoghurt and Fermented Milk

Imports into Uruguay

In 2022, purchases abroad of yoghurt and fermented milk increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, faced a abrupt decline. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, yoghurt and fermented milk imports surged to $X in 2022. In general, imports, however, saw a abrupt slump. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Argentina (X tons), Brazil (X tons) and the United States (X tons) were the main suppliers of yoghurt and fermented milk imports to Uruguay, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, the largest yoghurt and fermented milk suppliers to Uruguay were Argentina ($X), Brazil ($X) and the United States ($X), together comprising X% of total imports.

Among the main suppliers, Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average yoghurt and fermented milk import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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